Typically, in the construction of an insulated wall, wooden or metal studs are placed in a spaced-apart relationship to form a series of vertical studs with cavities therebetween. Insulating material, such as roll-type fiberglass material, is secured in the wall cavity between the studs, and, thereafter, wallboard or finished wall materials are secured to the outside of the studs, to form the finished wall system. While effective, such a prior-art system requires the positioning, securing and using of wall studs, with the use of soft or flexible insulation, and means to secure the insulation in position within the wall cavities formed, and in general requires considerable labor, material and expense.